There is no reason why solicitors setting up a new law firm should not do so as an alternative business structure, the chief executive of the Solicitors Regulation Authority has said. Mr Philip predicted that solicitors would in the future be ” business people first”.
A business offering unregulated legal services and HR consultancy is to launch an alternative business structure (ABS) to add reserved areas of law done in-house to its extensive menu of employment and HR advice.
The Solicitors Regulation Authority (SRA) has closed an alternative business structure after obtaining a High Court order to obtain crucial evidence.
Solicitors believe the practising certificate (PC) fee is still too high, despite a cut of 17% approved by the Law Society council earlier this month, research has revealed.
The Solicitors Regulation Authority and Financial Conduct Authority have agreed that transitional arrangements for firms wanting to carry out consumer credit activities will be extended by a further six months, from 30 September 2014 to 1 April 2015.
The Bar Standards Board has set itself a minimum target of 30% for diversity data collection from barristers on sexuality, religion and disability. It is also planning more work on the under-representation of women at the bar, and reports of harassment and discrimination.
Small firms and sole practitioners could be removed from conveyancing panels if the Solicitors Regulation Authority goes ahead with its indemnity insurance reforms, the Council of Mortgage Lenders (CML) has warned.
The Solicitors Regulation Authority is pushing ahead with its plans to deregulate the training of solicitors, despite objections from their professional body. They include scrapping the prescribed form of the training contract.
The focus on law firms in the assigned risks pool has led to a significant fall in the number of other monitoring visits conducted by the Solicitors Regulation Authority (SRA), Legal Futures can report. The SRA says the move is an example of its shift towards risk-based regulation.
The number of solicitors has grown by nearly 50%, and the number of firms by a third, in the past decade, Legal Futures research has discovered. According to SRA figures, for the first time the number of solicitors on the roll has topped 150,000 (it is now 153,971), and the number of practising solicitors has gone over 120,000 (120,917).